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The investment development path in a globalised world: implications for Eastern Europe

Rajneesh Narula () and José Guimón ()
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José Guimón: Universidad Autónoma de Madrid, Spain

Eastern Journal of European Studies, 2010, vol. 1(2), 5-19

Abstract: This article summarises recent revisions to the investment development path (IDP) as postulated by Narula and Dunning (2010). The IDP provides a framework to understand the dynamic interaction between foreign direct investment (FDI) and economic development. The revisions take into account some recent changes in the global economic environment. This paper argues that studies based on the IDP should adopt a broader perspective, encompassing the idiosyncratic economic structure of countries as well as the heterogeneous nature of FDI. It is critical to understand the complex forces and interactions that determine the turning points in a country’s IDP, and to more explicitly acknowledge the role of historical, social and political circumstances in hindering or promoting FDI. We discuss some of the implications for Eastern European countries and provide some guidelines for future research. Key words: FDI, investment development path, Eastern Europe, multinational enterprises, transition

Date: 2010
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